Oramed cancels COO options for 75,455 shares
A separate 209,291-share award vests over 24 months subject to continued service, with unvested shares subject to forfeiture.
Rhea-AI Filing Summary
ORAMED PHARMACEUTICALS INC. COO & CBO Joshua Hexter reported that on September 24, 2026, the company canceled all his outstanding stock options under an option exchange program. In exchange, he received a 75,455-share restricted stock award, fully vested upon grant and valued at $4.75 per share, equal to the canceled options’ aggregate Black-Scholes value. The company also granted him a separate 209,291-share restricted stock award; vesting is subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Hexter Joshua
Role
COO & CBO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock option (right to buy) F1, F3 | 50,000 | -- | -- |
| Disposition | Stock option (right to buy) F1, F4 | 50,000 | -- | -- |
| Disposition | Stock option (right to buy) F1, F5 | 36,000 | -- | -- |
| Grant/Award | Common Stock F1 | 75,455 | -- | -- |
| Grant/Award | Common Stock F2 | 209,291 | -- | -- |
Holdings After Transaction:
Stock option (right to buy) — 0 contracts (Direct);
Common Stock — 1,358,130 shares (Direct)
Footnotes (5)
- F1. On September 24, 2026, the issuer canceled all outstanding stock options held by the reporting person pursuant to an option exchange program approved by the Compensation Committee of the issuer's Board of Directors. In exchange for the canceled options, the reporting person received a restricted stock award of an aggregate of 75,455 shares, which fully vested upon grant, valued at $4.75 per share (the closing price on September 22, 2026), equal to the aggregate Black-Scholes value of the canceled options. The option cancellation and restricted stock grant were each approved in advance by a committee of non-employee directors.
- F2. On September 24, 2026, the issuer granted to the reporting person a restricted stock award of an aggregate of 209,291 shares pursuant to the issuer's Amended and Restated 2019 Stock Incentive Plan (the "Plan"). The restricted stock vests as to forty percent (40%) on the date of grant and as to the remaining sixty percent (60%) in eight (8) substantially equal quarterly installments over the twenty-four (24) month period following the date of grant, subject to the reporting person's continued service with the issuer. Unvested shares are subject to forfeiture in accordance with the terms of the applicable award agreement and the Plan.
- F3. The canceled option provided for vesting in 16 equal installments of 6,250 on the first day of every three-month period beginning November 1, 2019. Of the vested options, 50,000 were previously exercised.
- F4. The canceled option provided for vesting in 4 equal installments as follows: 12,500 shall vest on each of December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024.
- F5. The canceled option provided for vesting in 4 equal installments as follows: 9,000 shall vest on each of January 1, 2023, January 1, 2024, January 1, 2025 and January 1, 2026.
Key Figures
Restricted stock award received in option exchange: 75,455 shares
Award valuation per share: $4.75 per share
Separate restricted stock award: 209,291 shares
+4 more
7 metrics
Restricted stock award received in option exchange
75,455 shares
Fully vested upon grant on September 24, 2026
Award valuation per share
$4.75 per share
Closing price on September 22, 2026
Separate restricted stock award
209,291 shares
Granted September 24, 2026
Award vesting on grant date
40%
Separate restricted stock award
Remaining award vesting
60%
Separate award vests in eight substantially equal quarterly installments over 24 months
Quarterly vesting installments
8 installments
Separate restricted stock award
Vesting period
24 months
Period following grant of the separate restricted stock award
Key Terms
Black-Scholes value, restricted stock award, Stock Incentive Plan, forfeiture
4 terms
Black-Scholes value financial
"equal to the aggregate Black-Scholes value of the canceled options"
restricted stock award financial
"received a restricted stock award of an aggregate of 75,455 shares"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
Stock Incentive Plan financial
"Amended and Restated 2019 Stock Incentive Plan"
A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.
forfeiture financial
"Unvested shares are subject to forfeiture"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Did ORMP report a Rule 10b5-1 plan for this transaction?
No Rule 10b5-1 plan is reported.
AI-generated analysis. How Rhea-AI works. Not financial advice.
